As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. Last time we discussed some of the issues relating to initially measuring the lease liability. This is what it says about subsequent measurement: After the commencement date, a lessee shall measure the…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues arising in identifying at inception of a contract whether that contract is a lease, or contains a lease and in determining the lease term, as well as the standard’s major…
Here’s an issue discussed a while ago by Canada’s IFRS Discussion Group: “Entity A acquires 80 per cent of the issued shares of Entity B. Consideration is in the form of cash. Entity B has just one asset, the rights to a mineral property in the exploration and evaluation stage. As a result of the…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues attaching to the first step in the new standard’s lease accounting model, to identify at inception of a contract whether that contract is a lease,…
Here’s an issue discussed a while ago in Viewpoints: Applying IFRS in the Mining Industry – Accounting for Decommissioning Liabilities Assumed in a Business Combination, a document issued by the Mining Industry Task Force on IFRSs of CPA Canada and the Prospectors & Developers Association of Canada: “Mining entities often acquire projects directly or through the acquisition…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues attaching to the first step in the new standard’s lease accounting model, to identify at inception of a contract whether that contract is a lease,…
Are certain kinds of disclosures actively prohibited under IFRS? Here’s a disclosure to think about: The amount that the company hopes to recover is, I think, a contingent asset – a “possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already covered in various posts the main aspects of the accounting model for lessees, and last time we looked at some of the mechanics of making the transition to the new…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues attaching to the first step in the new standard’s lease accounting model, to identify at inception of a contract whether that contract is a lease,…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. Here’s the summary of the approach to lessee accounting: “IFRS 16 introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term…
John Hughes IFRS Blog 